China Unicom (Hong Kong) (NYSE:CHU) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a sell rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

CHU has been the topic of several other reports. TheStreet raised shares of Tupperware Brands from a d+ rating to a c rating in a report on Friday, March 15th. UBS Group raised shares of China Unicom (Hong Kong) from a neutral rating to a buy rating in a report on Monday, June 10th. Finally, New Street Research raised shares of from a neutral rating to a buy rating in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $12.00.

NYSE CHU opened at $10.66 on Tuesday. The stock has a market capitalization of $32.89 billion, a P/E ratio of 21.32 and a beta of 0.96. China Unicom has a 52 week low of $10.33 and a 52 week high of $13.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.34 and a current ratio of 0.35. The firm’s 50-day simple moving average is $10.76.

Several institutional investors have recently made changes to their positions in CHU. Renaissance Group LLC lifted its holdings in shares of China Unicom (Hong Kong) by 35.7% in the first quarter. Renaissance Group LLC now owns 1,339,446 shares of the Wireless communications provider’s stock worth $17,145,000 after buying an additional 352,031 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of China Unicom (Hong Kong) by 31,215.9% in the fourth quarter. BlackRock Inc. now owns 255,851 shares of the Wireless communications provider’s stock worth $2,727,000 after buying an additional 255,034 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of China Unicom (Hong Kong) in the first quarter worth about $2,374,000. Moon Capital Management LP purchased a new stake in shares of China Unicom (Hong Kong) in the fourth quarter worth about $916,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of China Unicom (Hong Kong) by 129.4% in the third quarter. JPMorgan Chase & Co. now owns 106,968 shares of the Wireless communications provider’s stock worth $1,250,000 after buying an additional 60,346 shares in the last quarter. 1.06% of the stock is currently owned by hedge funds and other institutional investors.

About China Unicom (Hong Kong)

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

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